Merchant cash advance (MCA) lenders often use aggressive collection tactics to retrieve debts from business owners. These tactics can be overwhelming, and business owners may feel trapped and unsure how to respond. Are you tired of dealing with aggressive collection calls from an MCA lender and wondering how to take control of the situation?
Responding directly and assertively
When dealing with aggressive collection calls, you should be prepared to respond directly and assertively. You can consider doing the following:
- Remain calm and composed to think clearly and make rational decisions. This can help prevent escalating the situation.
- Verify the MCA debt to ensure it is legitimate and accurate. You should request documentation to support the debt claim.
- Request a payment plan to manage the MCA debt in a way that is feasible for your business. This can help prevent further collection calls.
- Dispute the MCA debt if it is invalid or has been paid. You should gather all relevant documents and evidence to support your claim.
- Tell the collector to stop calling in writing. This can help provide a paper trail.
Amid facing aggressive collection tactics from an MCA lender, it is essential to give well-informed responses that can help prevent further harassment. It is also vital to keep detailed records of all communication with the lender and take immediate action to protect yourself and your company.
Protecting your rights as a business owner
Aggressive collection calls from MCA lenders can be stressful, but you do not have to face the situation alone. Seeking legal counsel can provide you with support and guidance to help you better manage the situation and protect your rights as a business owner.